Customer relationship management (CRM) systems are designed to track relationships between a business and its customers (which may be referred to as a type of business partner), as well as the services or assets (such as software, contracts, or property) that form these relationships. Assets are typically tracked through records representing business partners that have relationships to certain assets. This is the case because CRM systems are designed to focus primarily on customers, or business partners. Additionally, records of these assets are sometimes kept in a tabular format, with a single unique identifier. This makes it difficult, in some cases, to reflect accurately a particular asset's relationships with customers and other products, or its configuration as it differs from other assets of the same family, especially as this information changes with time.
Maintenance of data consistency between different aspects of a comprehensive CRM system (such as aspects of service, marketing, and sales) that relate to the same services or assets can become increasingly complex as additional systems are used for transactions with the same service or asset, especially where different systems use different records to represent the same particular service or asset. Transactions and other events in CRM systems are typically initiated by determining the type of transaction desired. Parameters (such as customer, cost and time) are set, and then a suitable service or asset of the transaction must be found and selected, after which the appropriate modifications must be made to all of the various records that can represent the service or asset.
A shortcoming of CRM and other similar systems is that tracking individual assets can become difficult in industries where assets are high-valued and have long life spans. In these areas, assets often become increasingly unique with the passage of time. Some CRM systems use product master data for representing assets, wherein a single generic record of master data is used to list all of the components and characteristics of all assets of a particular type. Existing systems are also oriented toward relationships with customers or other business partners, and not towards relationships with assets. Thus, in some cases, it is awkward for such systems to accurately reflect individual assets as they become more and more unique.
Similarly, the meaning of a business transaction is typically fixed by existing CRM applications, and the reuse of master data information, such as material or service “products” a company sells or provides, further limits the ability to customize a transaction to unique situations.